The average cost of renting a home in Spain declined in 2011 as rental prices fell in 77% of Spain’s primary rental markets according to data from Idealista.com and the Public Rental Company (SPA).

In Spain’s largest cities of Barcelona, Madrid and Valencia rents fell by 3.1%, 1.3% and 4% respectively, whilst in the rest of the country the largest falls were in Toledo by 8.7% and Oviedo by 6.8%. In Lleida, Bilbao and Alicante rentals actually rose by 11.2%, 4.2% and 4.1% respectively.

These declines follow on from the falls in 2010, indicating Spanish homes are becoming cheaper to both rent and buy over time.